RAYONIER INC — Director's Dealing 2012

Jul 31, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2012-07-30

Reporting Person: Kriesel Jack M. (SVP, Performance Fibers)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-07-30	Common Shares	I	9579.4268	$48.0500	Disposed	0.0000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	16840.5000	Direct

Footnotes

F1: Shares are held in the Rayonier Investment and Savings Plan, a 401(k) plan, for this person's account.